Operating a company remotely

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by a searcher from Georgetown University
in Raleigh-Durham, Durham, North Carolina, USA

4yrs ago

Operating a company remotely

I'd welcome feedback from anyone who has acquired a company and successfully operated it remotely. I've found what I believe to be a great opportunity in a business that meets all of my search criteria, except that it is 2.5 hours from where I live (moving is not an option for our family).

I know the details matter in this scenario, so happy to share more specifics, but at a high level, would love to get owners' thoughts on this model based on their past experience--what worked, what didn't, what are the key elements to focus on in diligence in this scenario, etc?

Thank you!
Matt

1 Like

607 Views

reply by a searcher 2yrs ago
from INSEAD in Baltimore, MD, USA

Great call out by Chris here—the higher degree of remote functionality already in the business the better.

I do believe it is possible to manage if you have a strong day-to-day operations person, but keeping them happy and with the company becomes a risk to manage to keep your remote-ness sustainable.

Curious what direction you ended up going here and why, Matt!

reply by a searcher 2yrs ago
from INSEAD in Baltimore, MD, USA

Great to hear someone who has changed their mind. I’m still working in a nearly 100% remote company and the commitment from the org makes a big difference. Even better if leaders can put structures in place to build connection without sacrificing the remote model.